Getting a Great Deal on Branson Real Estate

Obviously, the thing on every home buyer’s mind today is value! Everyone wants a deal! Well, there’s certainly nothing wrong with that. I, too would want a deal if I were buying a home right now, so that’s exactly what I want for my clients. There are some misconceptions about “deals” though, so let me share my thoughts on the subject.

  • Some buyers are expecting steals rather than deals. There’s no such thing as a steal. Our property values in the Branson area are still strong, and the market just won’t allow for a property to be sold for THAT much below market value. Focus on buying a home at a good value – forget about pie in the sky expectations.
  • The best deals come with strings attached! If you’re going to pay much less than market value for a home, you’re going to have some chores! Many, especially foreclosures, require repairs and deferred maintenance.
  • Listen to your agent, not the listing price. Listing prices don’t mean much of anything. It’s a made-up number that the listing agent and the seller came up with. Sometimes, properties are listed for far more than they’re worth. Other times, an aggressive seller will list it below market value in order to get it sold fast. If you’re working with a buyer’s agent you can trust (like me!) they will help you determine fair market value – regardless of the listing price.
  • If you want a great deal, try to keep emotions at bay. Buying a home is an intensely emotional process. If you get attached to a particular property, it’s harder to be in a good position for negotiation. My dad always told me that if you’re willing to walk out of the car dealership during negotiations, you’ll have a greater chance of getting that reduced price. Home buying is the same way. If you HAVE to have THAT property, you reduce your position of power as a buyer.
  • Count on a great buyer’s agent to help you negotiate. Many agents prioritize processing the most transactions possible. It’s important that you’re working with an agent that has your best interest in mind and is willing to do more work in order to get the best possible price for you. How do you know if you can trust your agent? How does he or she treat you? Are they trying to “sell” houses to you, or are they taking a pragmatic approach to evaluating each property critically?

Even in this buyer’s market, you can overpay! Make sure you have a pro on your side. It will save you thousands. I recently had clients fall in love with a home that was for sale by owner. They considered purchasing it and doubted the usefulness of a buyer’s agent until we did a complete market analysis and found that they would be over paying for the property compared to the competition in the market. Needless to say, they are glad they trusted the advice of their buyer’s agent!

Comments

  1. Valerie Santos says:

    Pls forward list of forclosures

  2. I don’t know where Branson is, but in this economy, we need steals not deals cuz every deal right now is a bad deal. Just cuz the 2006 $1mill home is now $800k, does not mean it’s a good deal. Market value is based on what the public wants to pay for it. So if the agent says, market value is 800k, he is wrong if the buyer wants to pay $500k because there are fewer dual income families. Shoot, with 10% unemployment and 18% underemployment, there are few single income families. If this economy is to build and we are to take homes off the market as soon as possible to rebuild the housing industry, they need to sell homes the way they try to sell me a rolex in mexico. Give me a deal I can’t refuse cuz none of the houses are worth what they want to sell them for.

  3. Valerie,

    Got you covered!

    -Cole

  4. Ow,

    I respectfully disagree!

    When I determine the market value of a property, I look at the price people ARE willing to pay. The price that people are currently paying for similar properties. The listing price is irrelevant to me. The market price is not what they buyers “wants” to pay, as you said. If that were the case, then the market value for every lake front mansion would be $10.

    Here in the midwest, our housing market is not depressed like some other areas. It is definitely softer, and the market values have shifted to represent that softening of the market. When buyers write contracts and buy 3br 2ba homes that are priced at $129,900, then the market value of similar 3br 2ba homes is $129,900.

    If you want a steal, you have to be prepared to do a lot of work. The “steals” are moldy, beat up, or falling down. If you’re into that, then you can make a great investment! Most people, however, don’t have the time or money to invest in such a huge project.

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God cares about honesty in the workplace; your business is his business. Proverbs 16:11 (MSG)